The Arab Fund for Economic and Social Development (AFESD) announced today the signing of two Memoranda of Understanding during the Islamic Development Bank (IsDB) Group Annual Meetings in Algeria, aimed at strengthening strategic partnerships and fostering regional economic integration across the Arab world.

Key Signing Details:

1. First MoU: With Saudi EXIM Bank to boost Arab exports of goods and services

2. Second MoU: With the Islamic Corporation for Private Sector Development to explore co-financing and investment opportunities

High-Level Participation:

• AFESD delegation led by Director General and Board Chairman Bader Al-Saad

• Included bilateral meetings with Algerian ministers of:
  ✓ Finance
  ✓ Energy & Mines
  ✓ Public Works & Transport
  ✓ Water Resources
  ✓ Industry & Environment

Strategic Commitments:

In his keynote address, Al-Saad emphasized:

"These agreements mark a pivotal step in operationalizing AFESD's new strategy through multilateral platforms, creating pathways for regional cooperation to accelerate economic growth, trade, and social development."

Private Sector Engagement:

• Khalid Hamza, AFESD's Private Sector Investments VP, participated in a panel titled:
  "Partnership for Impact: Arab Coordination Group & Private Sector in Advancing Sustainable Development"

• Highlighted AFESD's role in:
  ✓ De-risking investments
  ✓ Deploying innovative financing solutions
  ✓ Empowering private sector as growth engine

Algerian Development Portfolio:

AFESD's ongoing projects in Algeria include:

• Hassi Messaoud Power Plant (Southern Algeria)

• Social Housing Programs (Central Region)

• Beni Hassan Water Pumping/Transfer Station

Context:

The signings align with AFESD's 2030 vision to leverage Arab institutional partnerships for sustainable development.